Sundaram Fasteners to buy German firm
By agencies
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Thursday, 10 November 2005, 20:30 IST
MUMBAI: Indian auto components maker Sundram Fasteners Ltd today said it would acquire 10 percent stake German auto parts maker Peiner Unformtechnik GmbH, a subsidiary of Germany-based company Textron Deutschland Beteilingungs GmbH.
According to a release issued by Sundaram Fasteners to the NSE today, the company is planning to sign an agreement with Textron Deutschland for the acquisition.
Peiner manufactures a wide range of fastener products catering to the automobile, industrial and construction sectors, the release added.